Palestinian Central Bureau of Statistics (PCBS)

Palestinian Producer Price Index, 2024 & December 12/2024

Sharp Increase in the Producer Price[1] Index (PPI) during 2024

The overall PPI in Palestine with its base year (2019=100) reached 150.44 in 2024, which indicates a sharp increase by 35.42% compared to 2023.

Prices of PPI for 2024 sharply increased due to the increase in the prices of goods and services in the following major activities: Agriculture, forestry and fishing activities by 99.14%, Manufacturing activities by 7.52%, Water supply; sewerage, waste management and remediation activities by 3.80%, and Electricity, gas, steam and air conditioning supply activities by 2.77%. While, Mining and quarrying activities decreased by 1.03% in 2024 compared to 2023.

The prices of locally consumed products sharply increased by 38.55% and the prices of local exported products increased by 5.69%.

Yearly Percent Changes in PPI in Palestine for 2014 – 2024

Sharp Decrease in the Producer Price Index (PPI) during December 2024

The overall Producer Price Index (PPI) for Palestine with its base year (2019 = 100) reached 165.87 in December 2024, as it decreased by 5.77% compared to November 2024.

PPI for locally consumed products during December 2024

Producer Price Index for locally consumed products (2019 = 100) reached 170.82 in December 2024, which indicates a decrease of 5.87% compared to November 2024.

PPI for local exported products during December 2024

Producer Price Index for local exported products (2019 = 100) reached 119.68 in December 2024, which indicates a decrease of 4.33% compared to November 2024.

The changes of PPI for December 2024 were traced back to changes in prices of the following major activities compared to the previous month:

The table shows monthly percent changes in Palestinian PPI for the months January – December 2024:

The trend line of the PPI in Palestine, for the months:

 January - December 2024 (Base Year 2019 = 100)

Notice for Users:

1.   The data collection process for agricultural commodities, which was collected in the same reference month, was complete for the West Bank. Due to the Israeli occupation aggression against Gaza Strip since October 7th, 2023, the data for December 2024, were collected through direct phone contact with PCBS fieldworkers working in Gaza Strip focusing on high relative importance within the main major groups in the producer price index.

2.   The process of collecting data on industrial goods for the West Bank sample of industrial establishments was complete for December 2024, while in Gaza Strip; the data of all industrial establishments was estimated due to the accelerated Israeli escalation witnessed in Gaza Strip on October 7 during 2023 against all aspects of society.

3.   International recommendations were followed in estimating the missing data, which are mentioned in Price Index guide. Moreover, the (Group Relative Method) is one of the best methods used to estimate the missing data, which is the process of estimating the prices based on the change in the prices of the remaining sources for the same category. Accordingly, in case of the closure of an entire source on a temporary basis, all the prices of that source are estimated based on the change in the prices of the sources that share the same items, which are collected from that source.

4.   The estimate is also used at the (Next Level Up in Aggregation) in case of the disappearance of the index for a whole sub-group or a higher group reaching up to the major groups that constitute the index.